Sec. 303. Moratorium on imposition of shutdown liability
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/bill/113/s/1979/is/section-303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The Pension Benefit Guaranty Corporation shall not bring any new action against a plan sponsor to enforce subsection
(e)of section 4062 of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1362 ) before January 30, 2016. The Comptroller General of the United States shall study the effectiveness, fairness, and utility of section 4062(e) of the Employee Retirement Income Security Act (29 U.S.C. 1101 et seq.). No later than January 30, 2015, the Comptroller General shall submit a report to the Committee on Health, Education, Labor, and Pensions of the Senate and the Committee on Education and the Workforce of the House of Representatives summarizing its findings and including recommendations for alternative ways to protect retirees and the Pension Benefit Guaranty Corporation from cessations of operations while encouraging employers to both continue to offer defined benefit pension plans and to restructure as may be necessary to ensure the ongoing viability of the business.
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